This translates to rental yields for the ultra-luxury properties increasing in Q3 after a decline in the previous quarter. In comparison, rental yields for the high-end, middle-end and mass market residential properties remained stable for the most part.

High-end properties’ rents also grew 6.3% QoQ in Q3. In comparison, residential rentals for the middle-end and mass market private residential properties remained flat, with vacancy rates for these segments continuing to be stable.